Victory Capital Management Inc. Decreases Stock Position in Kelly Services, Inc. (NASDAQ:KELYA)

Victory Capital Management Inc. lowered its stake in shares of Kelly Services, Inc. (NASDAQ:KELYA) by 22.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,000 shares of the business services provider’s stock after selling 9,500 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Kelly Services worth $685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bailard Inc. lifted its position in Kelly Services by 6.9% during the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock worth $233,000 after acquiring an additional 700 shares during the period. Innealta Capital LLC purchased a new position in shares of Kelly Services in the second quarter worth about $39,000. nVerses Capital LLC purchased a new stake in Kelly Services in the second quarter valued at approximately $47,000. Janney Montgomery Scott LLC increased its holdings in Kelly Services by 11.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 23,939 shares of the business services provider’s stock worth $599,000 after buying an additional 2,405 shares during the period. Finally, CX Institutional raised its position in Kelly Services by 1.8% during the 2nd quarter. CX Institutional now owns 140,583 shares of the business services provider’s stock worth $3,010,000 after buying an additional 2,456 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KELYA shares. Barrington Research reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Kelly Services in a report on Thursday, August 15th. StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services Stock Down 1.9 %

KELYA stock opened at $21.18 on Friday. Kelly Services, Inc. has a one year low of $17.40 and a one year high of $25.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.61 and a current ratio of 1.61. The firm’s fifty day moving average is $21.23 and its 200 day moving average is $22.29. The firm has a market cap of $752.36 million, a PE ratio of 15.24, a P/E/G ratio of 0.65 and a beta of 1.19.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business earned $0.36 EPS. Kelly Services’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, research analysts forecast that Kelly Services, Inc. will post 2.49 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.075 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a yield of 1.42%. Kelly Services’s dividend payout ratio is currently 21.58%.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.